Equinix, Inc. $EQIX Holdings Decreased by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 448,058 shares of the financial services provider’s stock after selling 44,188 shares during the period. Equinix accounts for 0.4% of Russell Investments Group Ltd.’s holdings, making the stock its 28th biggest holding. Russell Investments Group Ltd.’s holdings in Equinix were worth $453,446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of EQIX. Fulton Bank N.A. grew its holdings in Equinix by 3.1% during the 2nd quarter. Fulton Bank N.A. now owns 328 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 10 shares during the period. High Net Worth Advisory Group LLC raised its position in shares of Equinix by 5.3% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 219 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 11 shares in the last quarter. Angeles Wealth Management LLC raised its position in shares of Equinix by 3.7% in the 2nd quarter. Angeles Wealth Management LLC now owns 310 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 11 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Equinix by 30.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 51 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 12 shares during the period. Finally, Front Row Advisors LLC lifted its stake in shares of Equinix by 0.4% in the 1st quarter. Front Row Advisors LLC now owns 3,317 shares of the financial services provider’s stock valued at $3,251,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 198 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $1,014.18, for a total value of $200,807.64. Following the completion of the sale, the insider owned 3,879 shares in the company, valued at $3,934,004.22. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Paladin sold 307 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the transaction, the insider directly owned 2,450 shares in the company, valued at $2,535,774.50. The trade was a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 968 shares of company stock worth $1,007,885 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Performance

EQIX opened at $1,072.77 on Friday. Equinix, Inc. has a 1-year low of $720.62 and a 1-year high of $1,128.68. The company has a market cap of $105.85 billion, a price-to-earnings ratio of 64.43, a PEG ratio of 1.50 and a beta of 0.98. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.59. The company’s fifty day moving average price is $1,018.86 and its two-hundred day moving average price is $1,018.62.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $0.82. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.83 EPS. On average, analysts expect that Equinix, Inc. will post 39.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be paid a $5.16 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. Equinix’s dividend payout ratio is presently 123.96%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EQIX. JPMorgan Chase & Co. upped their target price on Equinix from $1,300.00 to $1,350.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. HSBC dropped their price target on Equinix from $1,400.00 to $1,380.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. The Goldman Sachs Group increased their price target on Equinix from $1,015.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. TD Cowen raised their price objective on shares of Equinix from $1,166.00 to $1,210.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Finally, Deutsche Bank reiterated a “buy” rating on shares of Equinix in a research note on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus target price of $1,234.13.

Equinix Profile

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.